Jobless claims failed to meet expectations with a slight increase for the week ending August 21st, according to the latest data from the Department of Labor…(DOL)
- Initial claims were 353,000, an increase of 4,000 from the previous week’s revised level. Forecasts had claims slightly rising to 350k.
- The 4-week moving average was 366,500, a decrease of 11,500 from the previous week’s revised average. This was the lowest level for this average since March 14, 2020.
Continuing claims saw a decrease across the board for the week ending August 14th but didn’t meet forecasts that claims following to 2.79M…
- Continuing claims were 2,862,000, a decrease of 3,000 from the previous week’s revised
level. This is the lowest level for insured unemployment since March 14, 2020.
- The 4-week moving average was 2,901,500, a decrease of 108,500 from the previous week’s revised average. This is the lowest level for this average since March 21, 2020.
The individual state level data was a mixing pot for the week ending August 14th…
- The states with the largest increases were Virginia (+6,367), New Mexico (+2,872), District of Columbia (+757), Georgia (+374), and Nevada (+288),
- The states with the largest decreases were in Texas (-7,667), Illinois (-3,023), Kentucky (-2,236), Michigan (-2,026), and Massachusetts (-1,146).